WHY IS IT SO IMPORTANT FOR SMES TO INVEST IN COMPETENCE DEVELOPMENT ACTIVITIES? PUBLISHEDMihaela Ioana Iacob, V. V. Pantea
In this paper we studied Why is it so important innovation to the business itself? First, because innovative firms tend to grow faster, thereby creating greater profits for the owners and investors. Second, whereas continuous improvement with the business can improve profitability and performance, it is insufficient in itself to keep the firm ahead of the competition. It is innovation that creates competitive advantage and new market opportunities, not just in terms or new products or services but in alternative ways of delivering or offering existing services that offer specific benefits to the customer, or new ways of managing customer relationships.
innovation; performance; opportunities